Ripio Raises $31 Million in Private Ethereum Token Sale

Bitcoin startup Ripio has raised $31 million in an advanced sale for a forthcoming blockchain network.

Formerly known as BitPagos, the Argentinian startup is raising the funds to build what it calls the Ripio Credit Network, which will utilize as an ethereum token as a medium of exchange between lenders and borrowers. Ripio is now planning to launch the next phase of its sale on October 24, and the concept has drawn a notable cast of backers.